Wearable Technology to Enable Bluetooth Smart Market to Expand at 28.0% CAGR from 2016 to 2021

Wearable Technology to Enable Bluetooth Smart Market to Expand at 28.0% CAGR from 2016 to 2021

Published on : May 06, 2016

ALBANY, New York, May 06, 2016: The report analyzes the Bluetooth smart market by stating its current value, size, performance, and statistics. According to the report, the global Bluetooth smart market is expected to expand at a high CAGR of 28% between 2016 and 2021. The report is an in-depth study of the key dynamics of the Bluetooth smart market.

In the era of wireless technology, Bluetooth has become a standard for exchanging data over a short range of distances between fixed and mobile devices. Invented by the Swedish firm Ericsson in 1994, Bluetooth was developed as an alternative to sharing data via a data cable. Bluetooth technology was designed as an open standard to allow connectivity and sharing between different electronic products.

The worldwide Bluetooth smart market is driven by the growing need for accessing data without any barriers. The demand for embedded connectivity that enables interaction between various electronic devices is promoting the advancement of technology standards, Bluetooth smart being one such a standard, which has gained immense popularity. Bluetooth smart has become a widely accepted technology since it is an energy-efficient technology as compared to other networking solutions and competing interfaces such as Ethernet and Wi-Fi. With the constant need for devices to interact with each other, the easily-implementable Bluetooth smart technology is becoming indispensable.

The industrial internet of things (IoT) revolution is one of prime drivers for the global Bluetooth smart market. The rising adoption of industrial IoT is expected to drive the market for wireless technology, thus benefitting the Bluetooth smart market. The initiatives taken by the governments of Germany and France to drive industrial IoT solutions across Europe, will further fuel the Bluetooth smart market from 2016 to 2021. The increase in the use of Bluetooth smart in a number of healthcare applications will also aid the worldwide Bluetooth smart market.

The Bluetooth smart market may face challenges in the form of lack of standard communication protocol and lack of interoperability. Rising adoption of communication protocols such as Zigbee, Wi-Fi, and others is expected to inhibit the Bluetooth smart market. Concerns over data privacy and data security may also hamper the Bluetooth smart market.

However, the growing trend of embedding Bluetooth smart in wearable technology is expected to make Bluetooth smart popular. The Bluetooth smart wearable technology market comprises devices such as smart headsets, smart glasses, child and pet monitoring, activity monitors, head- and hand-mounted terminals, cameras, medical aids, smart clothing, and ingestible. Moreover, companies such as Apple, which have been refraining from adopting Bluetooth technology since long, have also centered their wearable technology strategy on Bluetooth, thus boosting the demand for Bluetooth smart.